The following information is available for cullumber company for three recent fiscal years.                                        2022               2021              2020 Inventory                        532,000          580,000          330,000 Net Sales                        1,920,000         1,750,000       1,315,000 Cost of goods sold         1,334,400          1,137,000      943,000 Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.) 2022   2021 Inventory Turnover   enter an inventory turnover times   enter an inventory turnover times Days in Inventory   enter a number of days days   enter a number of days days Gross Profit Rate   enter percentages %   enter percentages %

Taylor Company uses a periodic inventory system. The following is partial information from its income statements for 2019 and 2020:   2019 2020 Beginning inventory $ (b) $ (d) Sales 250,000 (f) Purchases 120,000 140,000 Purchase returns 2,000 3,000 Ending inventory 45,000 70,000 Gross profit (a) 88,000 Cost of goods sold 111,000 (e) Expenses 70,000 62,000 Net income (c) 26,000 Required Fill in the blanks lettered a through f. (Hint: It probably is easiest to work through the blanks according to the sequential letters.) (a) Gross profit        (b) Beginning inventory   (c) Net income   (d) Beginning inventory of 2020   (e) Cost of goods sold   (f) Sales

On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, end of year Cost Retail $50,400 $ 84,000 201,840 350,000 10,000 12,000 327,000 1.04 During 2022, purchases at cost and retail were $248,655 and $452,100, respectively. Net markups, net markdowns, and net sales for the year were $3,000, $4,000, and $360,000, respectively. The retail price index at the end of 2022 was 1.06. Estimate ending inventory in 2022 using the dollar-value LIFO retail method. (Round your intermediate calculations to the nearest whole dollar. Round ratio calculation to the nearest whole percent.) Answer is complete but not entirely correct. $ 60,238 Ending inventory

The following data are available for Sellco for the fiscal year ended on January 31, 2020:              Sales 830 units       Beginning inventory 230 units @ $ 4 Purchases, in chronological order 290 units @ $ 5   450 units @ $ 7   250 units @ $ 7   Required:a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.)   b. Assume that net income using the weighted-average cost flow assumption is $15,300. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)